Polaroid Corp. rejected a sweetened $3.2-billion bid...

Polaroid Corp. rejected a sweetened $3.2-billion bid from Roy Disney’s Shamrock Holdings, calling it inadequate and not in the best interest of shareholders. Previously, Shamrock Holdings Inc. was offering $42 a share, or about $2.4 billion, for all the shares except 9.7 million held in an employee stock ownership plan. Last week, Shamrock said it would pay $45 a share for all the outstanding shares, including the employee stake. In addition, it has said it will pay $47 a share if the newly created Polaroid employee shares are dissolved in court.